Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Columbus Downtown Office Incentive with Coyote Logistics, LLC.
Founded in 2006, Coyote Logistics, LLC (Coyote Logistics) is a full-service transportation company. It offers truckload, freight brokerage and documentation services. The company’s BAZOOKA software is a freight management system that provides data access and understanding for various industries. As a third-party logistics (3PL) provider, Coyote Logistics arranges the movement of 6,000 shipments per day by way of an ever-growing network of 40,000 carriers. The company offers van, rail, and open-deck brokerage services and transportation management services to more than 14,000 shippers, from Fortune 100 companies to small businesses, in many industries across North America. Coyote Logistics is headquartered in Chicago, with more than 2,000 employees operating from 16 offices nationwide. The company was recently named to the Chicago Tribune's list of the 2014 Top 100 Workplaces in Chicago for its fifth consecutive year.
Coyote Logistics, LLC is proposing to expand its Central Ohio operation by investing approximately $480,000 in leasehold improvements, which includes furniture and fixtures, to relocate its existing office from Hilliard, Ohio into a newly constructed Class A office space consisting of roughly 9,000 square feet located in the Columbus Downtown Business District. In addition, the company will create 50 new full-time permanent positions with an annual payroll of approximately $2.0 million and relocate 34 full-time jobs from Hilliard, Ohio (which will not be incentivized, but new to Columbus), with an annual payroll of approximately $2.89 million. Coyote Logistics, LLC would qualify for the Columbus Downtown Office Incentive in an amount equal to fifty percent (50%) of the payroll taxes paid on the new employees or approximately $125,000 over a term up to five (5) years. The Development Department...
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